Bank of New York Mellon Corp Trims Position in SiTime Co. (NASDAQ:SITM)

Bank of New York Mellon Corp decreased its holdings in SiTime Co. (NASDAQ:SITM - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 121,167 shares of the company's stock after selling 4,783 shares during the period. Bank of New York Mellon Corp owned 0.52% of SiTime worth $25,994,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Van ECK Associates Corp purchased a new stake in shares of SiTime during the 3rd quarter valued at about $123,000. Amalgamated Bank lifted its stake in shares of SiTime by 2.3% in the 3rd quarter. Amalgamated Bank now owns 5,509 shares of the company's stock valued at $945,000 after purchasing an additional 122 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company's stock worth $76,996,000 after purchasing an additional 59,931 shares during the period. Atria Investments Inc bought a new position in shares of SiTime during the 3rd quarter valued at approximately $228,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of SiTime in the third quarter valued at $236,000. Institutional investors own 84.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SITM shares. Stifel Nicolaus boosted their target price on shares of SiTime from $250.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Raymond James restated an "outperform" rating and set a $250.00 price target (up previously from $215.00) on shares of SiTime in a research note on Thursday, February 6th. Needham & Company LLC upped their price objective on shares of SiTime from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Finally, Barclays boosted their price target on shares of SiTime from $130.00 to $160.00 and gave the company an "underweight" rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $232.00.

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Insider Buying and Selling at SiTime

In other SiTime news, insider Piyush B. Sevalia sold 1,038 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $157.64, for a total value of $163,630.32. Following the completion of the transaction, the insider now owns 92,847 shares of the company's stock, valued at approximately $14,636,401.08. This trade represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Fariborz Assaderaghi sold 1,002 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $220.94, for a total transaction of $221,381.88. Following the sale, the insider now directly owns 100,681 shares in the company, valued at $22,244,460.14. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,544 shares of company stock worth $1,200,095 over the last three months. Corporate insiders own 2.30% of the company's stock.

SiTime Trading Down 4.7 %

Shares of NASDAQ:SITM traded down $7.85 during trading on Thursday, reaching $158.61. The stock had a trading volume of 649,878 shares, compared to its average volume of 225,253. The firm's 50-day simple moving average is $198.77 and its 200 day simple moving average is $192.44. SiTime Co. has a one year low of $72.39 and a one year high of $268.18. The company has a market capitalization of $3.74 billion, a P/E ratio of -39.16 and a beta of 1.85.

SiTime Profile

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.